Cyprus’ economy grew 3.3% year-on-year in the second quarter of 2026, matching preliminary estimates and picking up from a five-year low and an upwardly revised 3.1% in the previous three-month period. Domestic consumption growth edged up to 5.2% from 5% in Q1, as stronger household consumption (5.4% vs 5%) more than offset slower government spending (4.5% vs 5.2%). In addition, gross fixed capital formation surged to 9.5% from 1.2%, providing a further boost to expansion. On the external front, imports of goods and services accelerated to 12.9% in Q2 from 11%, while export growth eased to 9.6% from 13.4%. On a quarterly basis, GDP expanded 0.8%, up from a 0.2% gain in the previous period. source: Statistical Service of the Republic of Cyprus

The Gross Domestic Product (GDP) in Cyprus expanded 3.30 percent in the second quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Cyprus averaged 3.32 percent from 1996 until 2026, reaching an all time high of 18.80 percent in the second quarter of 2021 and a record low of -10.40 percent in the second quarter of 2020. This page provides - Cyprus GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2026.

The Gross Domestic Product (GDP) in Cyprus expanded 3.30 percent in the second quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Cyprus is expected to be 2.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus GDP Annual Growth Rate is projected to trend around 3.00 percent in 2027 and 3.20 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-08-14 09:00 AM
YoY Flash
Q2 3.3% 3.0% 2.5%
2026-09-01 09:00 AM
YoY Final
Q2 3.3% 3.1% 3.3%
2026-11-13 10:00 AM
YoY Flash
Q3 2.4%


Related Last Previous Unit Reference
Full Year GDP Growth 3.80 3.43 percent Dec 2025
GDP Growth Rate YoY 3.30 3.10 percent Jun 2026
GDP Constant Prices 7798.10 7761.20 EUR Million Mar 2026
GDP from Agriculture 83.40 82.41 EUR Million Mar 2026
GDP from Construction 375.80 384.10 EUR Million Mar 2026
GDP from Manufacturing 333.00 333.56 EUR Million Mar 2026
GDP from Mining 457.80 455.93 EUR Million Mar 2026
GDP from Public Administration 1209.30 1213.30 EUR Million Mar 2026
GDP from Services 1579.80 1580.90 EUR Million Mar 2026
GDP Growth Rate 0.80 0.20 percent Jun 2026
Gross Fixed Capital Formation 1488.20 1566.90 EUR Million Mar 2026
Gross National Product 32190.26 31016.41 EUR Million Dec 2025


Cyprus GDP Annual Growth Rate
Services including tourism, financial services, and real estate are considered as the backbone of the Cyprus economy, accounting for nearly 80 percent of GDP. Industry accounts for only 10 percent and agriculture for 2 percent. On the expenditure side, household consumption is the main component of GDP and accounts for 70 percent of its total use, followed by government expenditure (16 percent) and gross fixed capital formation (11 percent). Exports of goods and services account for 55 percent of GDP while imports account for 53 percent, adding 2 percent of total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
3.30 3.10 18.80 -10.40 1996 - 2026 percent Quarterly
SA, WDA

News Stream
Cyprus Q2 GDP Growth Confirmed at 3.3%
Cyprus’ economy grew 3.3% year-on-year in the second quarter of 2026, matching preliminary estimates and picking up from a five-year low and an upwardly revised 3.1% in the previous three-month period. Domestic consumption growth edged up to 5.2% from 5% in Q1, as stronger household consumption (5.4% vs 5%) more than offset slower government spending (4.5% vs 5.2%). In addition, gross fixed capital formation surged to 9.5% from 1.2%, providing a further boost to expansion. On the external front, imports of goods and services accelerated to 12.9% in Q2 from 11%, while export growth eased to 9.6% from 13.4%. On a quarterly basis, GDP expanded 0.8%, up from a 0.2% gain in the previous period.
2026-09-01
Cyprus Economic Growth Picks Up in Q2
Economic growth in Cyprus rose to 3.3% year-on-year in the second quarter of 2026, up from 3% in the prior period, according to preliminary estimates. Economic activity continued to be supported by strong performances in the wholesale and retail trade, repair of motor vehicles, information and communication, financial and insurance and contruction sectors. On a quarterly basis, economic activity increased by 0.8% in the second quarter, following a upwardly revised 0.5% rise in the prior period.
2026-08-14
Cyprus Q1 GDP Growth Slows to 5-Year Low
The economy of Cyprus grew by 3.0% year-on-year in the first quarter of 2026, down from 4.5% in the previous period and confirming preliminary estimates. This marked the weakest expansion since Q1 2021, as growth slowed across several sectors, including agriculture, forestry, and fishing (0.1% vs 1.1% in Q4), mining and quarrying (2.0% vs 4.3%), manufacturing (1.9% vs 4.7%), and construction (4.9% vs 9.2%). On the expenditure side, final consumption expenditure growth accelerated (4.9% vs 4.0%), supported by household spending (5.1% vs 3.3%), while gross fixed capital formation returned to growth (1.5% vs -15.2%). Net trade also contributed positively, with exports rising 10.5% and imports increasing 10.4%. On a quarterly basis, GDP grew by 0.2%, slowing sharply from 1.4% in the previous quarter and marking the weakest pace since Q4 2022.
2026-06-02